Lean Startup Summary

In: Business and Management

Submitted By kelseyh
Words 804
Pages 4
 Entrepreneurial Management
 Trying to fit square peg into round hole
 Many have the “Just Do It” attitude and don’t want management, that is where entrepenuers fails
 They need mananagement discipline of some sort
 Lean Startup comes from lean manufacturing at Toyota
 Want cross-Functional teams to work across all functions
 Henry ford = one of the great entrepreneurs ever and Automobile = Startup
• Startups have an engine of growth: need to make adjustments to make your products better.
• Feedback Loop: want immediate and automatic feedback that you don’t really think about. Steering is what must it different from other ways to get places.
• Many startups are like rocket launches but they are no good.
 First you have to have vision, then strategy and then a product.
 Setbacks are a good thing and a learning experience.
 Who’s an entrepreneur?
 Internal innovators = entrepreneur
• People working corporate America jobs can still be an entrepenur at their company, called intrapreneurs
 What’s a startup?
 “Startup is a humn insitiuition designed to create a new product or service under conditions of extreme uncertainty”
 Starts and entrepreneurs come in different sizes and forms
 Startups and innovation go hand & hand.
 Learning
 Validated learning: showing a team found valuuble truths about the present and the future
 Find a combination of your vision and what the customer wants
 Startup is an experiment to get validated learning
 IMVU was an experiment
• Had its up and down. They had to learn that the product the market wanted wasn’t the product they design and spend lots of time on
 Lean thinking = anything that provides benefit and value to the customer.
 Experiment
 Types of assumptions
• Value hypothesis: whether a product or service delivers value to customers once product is used
• Growth: how do customer…...

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